Thank you @DanaB27 !
Just to clarify my question on the 5498, I did receive a Form 5498 in 2023 for my original Roth contribution. It says $6000 in Box 10 for Roth IRA Contributions.
For simplicity, lets say the recharacterized amount (6000 - losses) is $4500. The Form 1099-R for the Roth account has this value in Box 1 for Gross Distributions. I did not receive a Form 5498 that shows $4500 as a recharacterized contribution in Box 4.
Should this amount appear in the same Form 5498 I received for my Roth account mentioned above, or should it be a separate Form 5498 for my traditional IRA (to which the amount was transferred)? The Form 5498 I received last year (5/2023) for my traditional IRA only included my contribution directly to it as well as a rollover, nothing in Box 4 for recharacterized contribution.
Thank you!
